Investment Risk Manager

Location: Edinburgh

Job Title

Department

Investment Risk, Analytics and Research-BG-UK

Overview of Department

Investment Risk, Analytics & Research provides independent, investment-relevant insight, oversight and constructive challenge that strengthen portfolio decision-making, support accountability and reinforce confidence with clients, boards and the firm. The function operates as an independent second line of defence with a front-office mindset: it does not manage portfolios; it engages directly with investment teams and brings judgement, analytical rigour and challenge to the investment process, enabling investors to act with conviction and continuously improve.

The function's mandate and remit are purpose-based: any feature, factor or behaviour of a portfolio is in scope where independent oversight adds value. Concentration and clustering; factor and style exposures; valuation and growth expectations; scenario and stress behaviour; thematic exposures such as AI and climate; and behavioural patterns.

The function is lean by design and increasingly AI-enabled. Routine production, standard data provision and first-pass analysis are increasingly scaled through platforms, automation and AI-enabled workflows, releasing senior time for the work that creates distinctive value: second-order analysis, forward-looking research, judgment-led oversight, constructive challenge, strategy engagement and client-relevant articulation.

Purpose of Role

Reporting to the Senior Investment Risk Manager, the Investment Risk Manager provides independent, experienced insight, oversight and constructive challenge on investment risk and portfolio construction, as part of a second line of defence with a front-office mindset. The role leads risk engagement with designated investment strategies, produces research and bespoke analysis that adds value to the investment process, contributes to and leads projects that advance the function's analytical tools and AI-enabled ways of working, and articulates risk credibly to investors, client-facing colleagues, clients, boards and governance forums, with the purpose of improving decision-making and outcomes for clients.

This position has been deemed a Certified role within the FCA's Senior Manager and Certification Regime. As a result occupants details will be displayed on the FCA register and both initial and annual fitness and propriety assessments must be completed.

Responsibilities

Lead independent oversight, insight and constructive challenge for a designated group of investment strategies (including a preferred opportunity to oversee engagement with Emerging Markets and related strategies), engaging directly with investment teams on portfolio risk characteristics and portfolio construction, so that risks are intentional, understood, proportionate and aligned with strategy philosophy and client expectations.

Produce and present risk reporting, deep-dive analyses and bespoke research that are insightful and decision-relevant, combining quantitative techniques with qualitative judgement and concluding with an explicit ‘so what’ rather than data-only reporting.

Originate and lead research on portfolio construction, thematic and emerging risks, and market behaviour, directing work towards material topics and translating findings into engagement that lands with long-term, fundamental investors.

Contribute to and lead projects that advance the function's analytical toolkit, automation and AI-enabled workflows, converting repeatable analysis into scalable, governed tools and raising the quality, consistency and reach of the function's output.

Prepare and present material for investment risk discussions with investment strategies, product groups, committees, boards and governance forums; raise and track risk actions; and escalate unresolved concerns through the appropriate routes in a timely and evidenced way.

Communicate investment risk to a broad range of stakeholders (investment teams, client-facing colleagues, clients, boards, and external academics and practitioners), including training, client meetings and occasional external presentations.

Mentor and develop Analysts and Associate Analysts within coverage pods, strengthening the depth, resilience and talent density of the function.

Where staff management responsibilities are delegated to the job holder, manage the relevant team members, including clear and appropriate apportionment of responsibilities and resources and management of staff, including training, development and appraisals.